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Conifer Financial Services is one of the world's leading independent fund administrators. It has more than 200 clients representing more than USD110 billion of combined assets under administration (AuA) and has a strong footprint in both the US and Asia (Singapore) following its successful merger with Vastardis Capital in 2014.
Speaking with Hedgeweek, Jack McDonald (pictured), President and CEO of Conifer Financial Services, says he is not surprised by the recent acquisition activity in the industry. In his view, fund administration is, in many regards, a scale game and consolidation will continue over the near term.
"While bigger isn't necessarily
- 26/10/2016
Athena Systems, provider of the Aura and Spark portfolio management, trading, risk, compliance and reporting platforms, is launching Athena Spark for Family Offices.
The platform aims to better meet the needs and price-point of the family office community.
“At our beta test sites Athena Spark for Family Offices saved an office 40 to 60 hours per week for trade generation and entry, re-keying of data, updating spreadsheets, running reports, manual compliance testing, reconciliations of positions, trades and cash and report generation. That’s a very compelling time savings for offices that are typically only three to five people,” says Stefano
- 26/10/2016
There is plenty of scope for further consolidation in the hedge fund administration space, but only those with a clear strategic vision and a willingness to reinvest in their businesses will likely emerge as tomorrow’s winners.
Consolidation in the hedge fund administration space remains a prominent trend and as investment banks re-assess the profitability of non-core business divisions and small administrators sink or merge in response to market complexity, it is one that is unlikely to end anytime soon.
In the last few years Goldman Sachs has sold its fund administration business, BNP Paribas acquired Credit Suisse's fund administration division,
- 26/10/2016
Datalytyx, a provider of big data engineering, data analytics and cloud solutions in the UK, has signed an agreement with Antuit to create a 100-person offshore delivery and competency centre in Bangalore.
In addition, Datalytyx was named Antuit's exclusive delivery partner for Talend, Cloudera and AWS data engineering services in Europe, the Middle East and Africa (EMEA).
The partnership represents a significant market initiative in EMEA by both organisations, supported by the new offshore centre in India. The centre will focus on data integration, quality, management, engineering and managed services related to data operations, while providing a collaborative workspace for
- 26/10/2016
Objecutive has integrated its Fund-Studio portfolio operations and reporting platform with RiskAPI, the on-demand portfolio risk analysis service provided by PortfolioScience.
"The ability to provide VaR reporting and portfolio risk analysis out-of-the-box is a big step forward for us," says Costas Kellas (pictured), CEO of Objecutive. "Fund-Studio's strength of flexible reporting on top of its solid trade management, position keeping and P&L platform has now been rounded out with the addition of dynamic risk reporting, seamlessly integrated into our product."
"RiskAPI is a perfect fit for Fund-Studio," adds Ittai Korin, PortfolioScience's CEO. "Their reporting tools allow rapid, dynamic queries
- 26/10/2016
An affiliate of private equity firm Sequoia Capital China is to make a RMB348 million (USD51.7 million) investment in Noah Holdings’ asset management business by acquiring equity interests Noah’s affiliate, Gopher Asset Management.
Gopher was founded in March 2010 and specialises in fund-of-funds management in the private equity, real estate, hedge funds, credit products and family office businesses.
As of 30 June 2016, Gopher's total assets under management reached RMB101.2 billion.
"Sequoia has been an important existing shareholder and business partner of Noah. We are excited about its decision to participate in our fast-growing asset management business. We
- 26/10/2016
The National Settlement Depository (NSD), Russia’s central securities depository, has signed a memorandum of understanding with China Securities Depository and Clearing Corporation (CSDC), which provides services to the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
The parties agreed to exchange experience and information, and to develop cooperation in the sphere of depository and settlement operations, operational interactions via correspondent accounts (links), corporate action processing, and information services.
Eddie Astanin (pictured), chairman of the executive board, NSD, says: “The Asian region is a very important element for full-scale integration of Russia’s post-trade infrastructure into the global financial system. Together
- 26/10/2016
Datactics, a provider of data quality and matching software, has appointed Owen Chuck as sales director and Alex Brown as product manager.
It follows on from the appointment of ex-UBS director Mick Foster to the company board and hire of regulations specialist Luca Rovesti earlier this year.
The London-based senior appointments are aimed at further strengthening the firm’s senior team and reinforce its capacity to meet increasing demand from clients for its risk, entity and instrument data solutions in London and across Europe.
Increased market interest in Datactics software for the purpose of regulatory reporting and metrics has
- 26/10/2016
The European Corporate Debt Private Placement (ECPP) Joint Committee, coordinated by the International Capital Market Association (ICMA), has launched an updated version of the European Corporate Debt Private Placement Market Guide.
The guide sets out a voluntary framework for common market standards and best practices which are essential for the further development of the ECPP market providing medium to long term finance especially to European mid-sized companies, in close alignment with the European Commission’s goal of bringing about a Capital Markets Union.
By the end of 2015, the ECPP market was estimated at EUR33 billion including German Schuldschein issuance.
- 26/10/2016
Adding leverage to an alternative investment fund does not necessarily increase the risk, according to a study by the Alternative Investment Management Association (AIMA) and the CAIA Association.
The AIMA/CAIA study suggests that there is no direct relationship between hedge fund leverage and the volatility and downside risk of fund performance.
For example, funds that typically have the highest leverage ratios of all hedge funds – those using relative value or arbitrage strategies – have lower volatility on average and have suffered smaller losses during crises and other periods of market stress over the last 20 years.
Equally,
- 26/10/2016
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